Marginal Cost and Correct Answer Essay - 1420 Words

Question 1 The primary objective of a for-profit firm is to ___________. Selected Answer: Correct Answer: 5 out of 5 points maximize shareholder value maximize shareholder value Question 2 5 out of 5 points The flat-screen plasma TVs are selling extremely well. The originators of this technology are earning higher profits. What theory of profit best reflects the performance of the plasma screen makers? Selected Answer: Correct Answer: innovation theory of profit innovation theory of profit Question 3 5 out of 5 points The Saturn Corporation (once a division of GM) was permanently closed in 2009. What went wrong with Saturn? Selected Answer: Correct Answer: Saturn sold cars below the prices of Honda or†¦show more content†¦Selected Answer: Correct Answer: autocorrelation autocorrelation Question 17 5 out of 5 points Consumer expenditure plans is an example of a forecasting method. Which of the general categories best described this example? Selected Answer: Correct Answer: survey techniques and opinion polling survey techniques and opinion polling Question 18 5 out of 5 points For studying demand relationships for a proposed new product that no one has ever used before, what would be the best method to use? Selected Answer: Correct Answer: consumer surveys, where potential customers hear about the product and are asked their opinions consumer surveys, where potential customers hear about the product and are asked their opinions Question 19 If two alternative economic models are offered, other things equal, we would Selected Answer: 5 out of 5 points select the model that gave the most accurate forecasts select the model that gave the most accurate forecasts Correct Answer: Question 20 5 out of 5 points The use of quarterly data to develop the forecasting model Yt = a +bYt−1 is an example of which forecasting technique? Selected Answer: Correct Answer: Time-series forecasting Time-series forecasting Question 21 If theShow MoreRelatedEssay about Marginal Cost and Correct Answer1404 Words   |  6 Pages____. Answer Selected Answer: total economic cost Correct Answer: total economic cost Question 2 5 out of 5 points Recently, the American Medical Association changed its recommendations on the frequency of pap-smear exams for women. The new frequency recommendation was designed to address the family histories of the patients. The optimal frequency should be where the marginal benefit of an additional pap-test: Answer Selected Answer: equals the marginal cost of the test Correct Answer: Read Moremcq on perfect competition1418 Words   |  6 Pagesof 1 points Private markets will always provide too few public goods because Selected Answer: Incorrect [None Given] Answers: of the negative externalities associated with these goods. it is unlawful for private firms to provide public goods. private markets will never provide goods that they know the government could provide. the private marginal cost is less than the social marginal cost. Correct private markets will never provide goods at a price of zero, which is the efficient priceRead Moremr jorge1265 Words   |  6 Pagespoints    Root beer    Candy bars Quantity Total Marginal Quantity Total Marginal    utility utility    utility utility 0 0 0 0 0 0 1 60 60 1 80 80 2 110 50 2 150 70 3 150 40 3 200 50 4 180 30 4 230 30 5 200 20 5 240 10 Reference: Ref 6-8 (Table) In the table, the total utility from consuming three root beers and two candy bars is: Selected Answer: 310 utils. Correct Answer: 300 utils. Question 2 1 out of 1 points Read MoreEssay about test 41368 Words   |  6 Pagesfunction assumes that Selected Answer:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   the level of output is fixed. Correct Answer:   Ã‚  Ã‚  Ã‚  Ã‚   at least one input is a fixed input. Question 2 4 out of 4 points Refer to the following table:    Amount of total output produced from various combinations of labor and capital.       Units of Capital       1 2 3    Units of Labor 1 2 3 4 5 6 80 180 270 340 390 410 100 220 330 420 490 530 120 260 390 500 590 650    If capital is fixed at two units, what is the marginal product of the fourth unitRead MoreEconomics Midterm1619 Words   |  7 Pagesdifference between revenue and ________________. Selected Answer: total economic cost Correct Answer: total economic cost Question 2 5 out of 5 points In the shareholder wealth maximization model, the value of a firms stock is equal to the present value of all expected future ___________ discounted at the stockholders required rate of return. Selected Answer: profits Correct Answer: profits Question 3 0 out of 5 points A typicalRead MoreEconomics 50501680 Words   |  7 Pagesthe firm management should not consider Answer Selected Answer: the added revenue from increased sales Correct Answer: interest payments on the firms loan. Response Feedback: Is this fixed cost that the firm has to pay regardless of advertising? †¢ Question 2 0 out of 1 points If marginal cost is equal to average total cost, then Answer Selected Answer: a. marginal cost is minimized. Correct Answer: b. average total cost is minimized. †¢ Question 3 0 outRead MoreSupply and Demand and Correct Answer1175 Words   |  5 Pagesa competitive labor market Answer Selected Answer: causes equality between the quantity of labor supplied and the quantity demanded. Correct Answer: creates a surplus of labor. Response Feedback: creates a surplus of labor. Question 2 0 out of 1 points A price ceiling set below the equilibrium price means that the quantity supplied ____ the quantity demanded so that a ____ exists. Answer Selected Answer: is less than; surplus Correct Answer: is less than; shortage Read MoreMidterm Exam Solution Essay1542 Words   |  7 Pagesof $60,000 and total costs of $30,000 for video purchases, utilities, taxes, and supplies. What is the total economic cost of operating the video store? A. $60,000 B. $42,000 C. $30,000 D. $72,000 Answer d. 2) In a competitive market, the market demand is Qd = 60 - 6P and the market supply is Qs = 4P. A price ceiling of $3 will result in a   A.  shortage of 30 units. B.  shortage of 15 units. C.  excess supply of 30 units. D.  excess supply of 12 units. Answer: A 3) Which ofRead MoreJust Me1386 Words   |  6 PagesSelect regrade mode | | Choose a regrade mode Change points or correct answer Drop question Give full credit This regrade will affect all users who submitted this Assessment containing this question. | Regrade not available | | This content items settings prohibit regrade on this item. | Time expired | | Your time has expired. The assessment has been automatically submitted. | Regrade not available | | This is a linked Assessment or Question. Only the ownerRead MoreEconomics and Correct Answer Essay1399 Words   |  6 Pagesimplies that: Answer Selected Answer: people make choices with an eye toward attaining objectives they have chosen. Correct Answer: people make choices with an eye toward attaining objectives they have chosen. Question 2 0 out of 10 points Carla had received very low annual return from her investment portfolio comprising of stocks of five companies for two years. Her decision to continue holding the same portfolio of assets will be an example of: Answer Selected